Level 3 Certificate in Retail Banking Conduct of Business (CertRBCB )

Transcription

1 Level 3 Certificate in Retail Banking Conduct of Business (CertRBCB ) Qualification Specification Page 1 of 12

2 CONTENTS Page 1. Accreditation information 3 2. Aims of the CertRBCB 4 3. Learning outcomes for the CertRBCB 5 4. Objectives of the CertRBCB 6 5. Structure of the CertRBCB 6 6. Entry requirements 6 7. Methods of study 7 8. Assessment methodology of the CertRBCB 7 9. Grading Assessment resits Learning resources Unit 1 specification 8 Unit 1 learning outcomes / assessment criteria 9 Unit 1 assessment methodology Unit 2 specification 11 Unit 2 learning outcomes / assessment criteria 11 Unit 2 assessment methodology 12 Page 2 of 12

3 1. Accreditation information Qualification title ifs Level 3 Certificate in Retail Banking Conduct of Business (CertRBCB ) Ofqual qualification number 501 / 0846 / 3 Qualification level 3 European Qualifications Framework (EQF) level 4 Regulation start date 1 September 2010 Operational start date 1 September 2010 Offered in Assessment available in English Assessment available in Welsh Assessment available in Irish Sector subject area Purpose Sub-purpose England, Wales and Northern Ireland Yes No No 15.1 Accounting and Finance B. Prepare for further learning or training and / or develop knowledge and / or skills in a subject area B2. Develop knowledge and / or skills in a subject area Total credits 13 Minimum credits at / above level 13 Minimum guided learning hours 120 Maximum guided learning hours 120 Overall grading type Assessment methods Qualification description Pass Multiple-choice examination The Certificate in Retail Banking Conduct of Business consists of two mandatory units. A total credit value of 13 must be obtained for achievement of the qualification. Age ranges 16 18; 19+ Page 3 of 12

4 1.1 Table 1 QCF Level 3 level descriptors DESCRIPTION SUMMARY KNOWLEDGE AND UNDERSTANDING APPLICATION AND ACTION AUTONOMY AND ACCOUNTABILITY Achievement at Level 3 reflects the ability to identify and use relevant understanding, methods and skills to complete tasks and address problems that, while well defined, have a measure of complexity. It includes taking responsibility for initiating and completing tasks and procedures as well as exercising autonomy and judgement within limited parameters. It also reflects awareness of different perspectives or approaches within an area of study or work. Use factual, procedural and theoretical understanding to complete tasks and address problems that, while well defined, may be complex and non-routine. Interpret and evaluate relevant information and ideas. Be aware of the nature of the area of study or work. Have awareness of different perspectives or approaches within the area of study or work. Address problems that, while well defined, may be complex and nonroutine. Identify, select and use appropriate skills, methods and procedures. Use appropriate investigation to inform actions. Review how effective methods and actions have been. Take responsibility for initiating and completing tasks and procedures, including, where relevant, responsibility for supervising or guiding others. Exercise autonomy and judgement within limited parameters. 2. Aims of the CertRBCB 2.1 The aims of the CertRBCB are to: i. develop understanding of the UK retail banking environment, its regulation and effective provision of lending and relationship management services; ii. enable students to examine issues relating to retail banking; iii. enable students to apply specialised, current knowledge of retail banking concepts and theories; iv. enable students to make informed and confident decisions relating to client scenarios; v. provide students with the tools and terminology necessary to analyse the retail banking products that support their client needs, wants and aspirations; vi. provide students with the opportunity to evaluate the impact of the changing regulatory and operating environment, technical changes, and risk management on issues relating to retail banking; Page 4 of 12

5 vii. support students understanding of ethics and wider environmental issues as applicable to retail banking; viii. enable students to explore the relationship between individuals and retail banking products and the range of economic, legal, regulatory and social factors that affect retail banking; ix. familiarise students with the links between theory and practice; x. enable students to explore recent developments in retail banking products; xi. enhance students ability to become autonomous and self-directed and enable them to manage their own professional development; and xii. provide opportunities for students to develop the necessary skills and competencies to move on to further study or employment. 3. Learning outcomes for the CertRBCB 3.1 Knowledge and understanding elements of the CertRBCB will provide students with the ability to evaluate: i. the environment of retail banking with a focus on the range of products which meet their clients needs and aspirations; ii. the current technical language, tools, methods and practices of retail banking to enable effective decision-making; iii. contemporary theories and concepts relating to retail banking and their practical application; and iv. retail banking and its need to respond to the constantly changing economic, legal and regulatory environment. 3.2 Subject-specific practical / professional elements of the CertRBCB will provide students with the skills to: i. analyse financial data and information, products and services and reflect upon their desirability and effectiveness; and ii. understand how retail banking products respond to the drivers and implications of changes in the wider environment and how these changes affect financial decisionmaking. 3.3 Intellectual skills developed by the CertRBCB will provide students with the ability to: i. locate, extract and analyse data from different financial sources; ii. apply higher-level cognitive skills of reflective practice, including analysis and evaluation; iii. demonstrate numeracy skills, including the ability to manipulate financial and other numerical data; iv. utilise problem-solving and decision-making skills; v. critically evaluate data and information; and vi. understand the interrelationships between the various subject disciplines and assimilate these coherently to provide effective solutions. Page 5 of 12

6 3.4 Transferable skills and personal qualities developed by the CertRBCB will provide students with the ability to: i. use appropriate data and information from a range of sources; ii. learn independently and enhance skills of self-reflection and self-managed study; and iii. structure and communicate ideas logically and coherently. 4. Objectives of the CertRBCB 4.1 On completion of the CertRBCB qualification, students will be able to: i. understand the retail banking environment; ii. understand the range of retail banking customer needs, wants and aspirations; iii. understand how regulation and legislation affects financial services organisations and their customers; iv. understand the operation and features of key retail financial products and services; v. understand the need to provide high standards of customer service. 4.2 As well as developing knowledge, the CertRBCB assists in developing the ability to: i. analyse and evaluate data and information; ii. develop skills in examination technique; iii. apply and build on previous learning and experience; and iv. develop critical thinking and critical evaluation and reflexivity. 5. Structure of the CertRBCB 5.1 CertRBCB is made up of two mandatory units which need to be successfully completed in order for the student to achieve the certificate: i. Unit 1: Principles of Retail Banking (10 credits / 90 GLH) ii. Unit 2: Retail Banking Customer Solutions (3 credits / 30 GLH) 6. Entry requirements 6.1 There are no specified entry requirements. However, individuals need to be satisfied of their ability to study in English at Level CertRBCB is equivalent to a GCE AS level qualification. 7. Methods of study 8.1 CertRBCB is a distance learning qualification. 8.2 It offers a flexible approach to learning and assessment. 8.3 Materials and additional information are available by access to my ifslearning. Page 6 of 12

7 8. Assessment methodology of the CertRBCB 8.1 Both units will be assessed by multiple choice examination made up of the following components: i. multiple-choice questions: 50 x 1 mark for each correct answer (total marks: 50); and ii. 3 case studies each with 10 linked multiple choice questions (total marks 30). 8.2 A total of 80 marks are available from both units. 9. Grading 9.1 The overall qualification and each unit will be graded pass / fail only. 10. Assessment resits 10.1 There are no restrictions on the number of times a student can resit a unit they have failed. 11. Learning resources 11.1 Students will be provided with the following learning resources: i. online access via my ifslearning to learning materials, including activities to help consolidate learning, and to KnowledgeBank (virtual library); ii. unit syllabuses; iii. specimen paper Unit 1 specification Unit title Unit 1: Principles of Retail Banking (PORB) Ofqual unit reference number A / 506 / 6856 Unit level 3 Guided learning hours 90 Unit credit value 10 Unit aims i. This unit introduces students to the retail banking industry by focusing on the interaction between clients, retail banking products and the financial services market place. ii. Students will gain an understanding of the UK Page 7 of 12

8 banking environment and its regulation. iii. Students will gain an appreciation of the need for customer service and relationship management services. Page 8 of 12

9 12.2 Unit 1 learning outcomes / assessment criteria Learning outcome (LO) The learner when awarded credit for this unit will: 1. Understand the range of retail banking customer needs, wants and aspirations. Assessment criteria (AC) Assessment of the LOs will require a learner to demonstrate that they can: 1.1 Distinguish between the range of customers and the role of banks and other lending institutions. 1.2 Distinguish between the financial circumstances and the impact on age, personal lifecycle / life goals and consumer protection. 2. Understand how regulation and legislation affects financial services organisations and their customers. 2.1 Identify the impact of legal concepts for banking. 2.2 Identify and interpret financial services regulatory objectives and processes. 3. Understand the operation and features of key retail financial products and services. 4. Understand the need to provide high standards of customer service. 3.1 Distinguish between the features and operation of current/deposit/savings accounts. 3.2 Distinguish between the main types of borrowing. 3.3 Distinguish between the main types and key features of general and life insurance. 3.4 Distinguish between the main types and key features of investments. 3.5 Distinguish between the main types and key features of pensions. 4.1 Identify and interpret the main characteristics of customer service delivery in financial services. 4.2 Identify and interpret the concepts of ethics, social responsibility and cultural awareness in financial services. 4.3 Identify and interpret needs based sales in financial services Unit 1 assessment methodology i. The assessment of Unit 1 will has one components: a. 50 multiple-choice questions. This component of the examination is to be completed in one hour. This component of the examination is worth 50 marks. Page 9 of 12

10 13.1 Unit 2 specification Unit title Unit 2: Retail Banking Customer Solutions (RBCS) Ofqual unit reference number F / 506 / 6857 Unit level 3 Guided learning hours 30 Unit credit value 3 Unit aims i. This unit introduces students to the evaluation of the clients retail banking needs. ii. Students will consider source of information to inform decision-making. iii. Students will understand the features of different types of banking product, and how they relate to client specific scenarios. iv. Students will consider the validity of data and information as a means of assisting in the decisionmaking process Unit 2 learning outcomes / assessment criteria Learning outcome The learner when awarded credit for this unit will: Assessment criteria Assessment of the LOs will require a learner to demonstrate that they can: 1.1 Identify and interpret the principles and rules of the key legal 1. Be able to evaluate the needs and aspirations of retail banking customers and provide appropriate financial solutions to meet these needs. concepts relating to banking. 1.2 Identify and apply regulatory rules to retail banking customers. 1.3 Assess affordability and suitability of suitable financial products and services for retail banking customers. 1.4 Identify and interpret the importance and impact of service quality in retail banking. Page 10 of 12

11 13.3 Unit 2 assessment methodology i. The assessment of Unit 2 has one component: a. 3 case studies each with 10 linked multiple-choice questions. This component of the examination is to be completed in one hour. This component of the examination is worth 30 marks. Page 11 of 12

12 About ifs University College ifs University College is a registered charity, incorporated by Royal Charter and has a remit to provide the financial services industry with a skilled and competent workforce while also promoting a better understanding of finance amongst consumers. ifs University College is the only specialist financial education body that is able to award its own taught degrees, a status that reflects the quality of all its programmes. Its financial capability, regulatory licences to practise and higher professional qualifications are directly informed in terms of content and learning experience by the needs of those it exists to educate. They bridge the academic/vocational divide to provide students with essential practical skills and the conceptual and analytical abilities of academic study. It is this unique and innovative approach that makes ifs University College the provider of choice for organisations and individuals seeking to improve knowledge, skills and career prospects in the area of finance and financial services. ifs University College ifs House 4-9 Burgate Lane Canterbury Kent CT1 2XJ T: +44 (0) (option 1) E: customerservices@ifslearning.ac.uk W: Page 12 of 12